91
91
Dec 27, 2012
12/12
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the first one, it was one where america had a surplus and america decided instead of doing what germany is doing at the moment -- which is cutting its nose to spite its face, and thereby entering into recession by cutting, cutting, cutting -- volcker and kissinger initially, and then volcker as the head of the fed had a different idea. we are going to expand our dominance and our wealth by expanding our deficit and using our deficits to provide the rest of the world with the demand which is necessary to grow their economies, even at the expense of ours. and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is game over. but if you are the united states of america and you have the reserve currency of the world, and certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, and japanese entrepreneurs, take their profit, which they earned and they send it to wall street. thus closing the cycle, the recycling loop. so, effe
the first one, it was one where america had a surplus and america decided instead of doing what germany is doing at the moment -- which is cutting its nose to spite its face, and thereby entering into recession by cutting, cutting, cutting -- volcker and kissinger initially, and then volcker as the head of the fed had a different idea. we are going to expand our dominance and our wealth by expanding our deficit and using our deficits to provide the rest of the world with the demand which is...
101
101
Dec 11, 2012
12/12
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and we know america is aging. america is getting older every day. i think 10,000 people retire every day. by 2030 is as -- it is estimated 20% of the population will be aged 65 and over. this really targets services to an expanding population. next slide, please. the current funding formula for the older americans act, it is primarily based on age before title b and c and 7, the share of population age 60 and older, and for title 3e, the share of population which is 70 or older. the act also provide a minimal level of funding for each state. no state can receive less than half a percent in total appropriation. in 2012 these numbers were about 5.9 million and title seven, $108,000 respectively. the law also includes a provision, each state will receive a least as much as in the prior fiscal year. while the federal formula is based on age, the older americans act requires state programs to target prioritized services to that population with the greatest economic and social needs. these include factors like poverty, living at or below the poverty level
and we know america is aging. america is getting older every day. i think 10,000 people retire every day. by 2030 is as -- it is estimated 20% of the population will be aged 65 and over. this really targets services to an expanding population. next slide, please. the current funding formula for the older americans act, it is primarily based on age before title b and c and 7, the share of population age 60 and older, and for title 3e, the share of population which is 70 or older. the act also...
80
80
Dec 10, 2012
12/12
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no one else in america is doing that. no one in north america is doing that. by putting everything together in one place under one roof engineers can design each parcel works better with the others. that means greater fuel efficiency for your trucks. it means greater savings for your customers. that is a big deal. last year i was proud to have your support when we announced the first ever fuel efficiency standards for commercial trucks which would help save consumers money and reduce our dependence on foreign oil. did that is good news. here is the other reason what you're doing is so important. companies are not always making this kind of investments. they were not always investing in american workers. they certainly were not willing to make them in the u.s. automobile industry. it was just a few years ago our automobile industry was on the verge of collapse. if they failed, they would have died off, too. even ford could have gone down. production halted. once proud companies chalked up and sold off for scraps. in new would have been hung up to dry. -- and yo
no one else in america is doing that. no one in north america is doing that. by putting everything together in one place under one roof engineers can design each parcel works better with the others. that means greater fuel efficiency for your trucks. it means greater savings for your customers. that is a big deal. last year i was proud to have your support when we announced the first ever fuel efficiency standards for commercial trucks which would help save consumers money and reduce our...
86
86
Dec 26, 2012
12/12
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america's competitive position. to me that should be a high priority. >> i would like to conclude with a question on your tenure. 26 years in the senate. he made the point that we now -- you made the point that we now have a partisan divide that is pretty vicious. from your experience, what can be done? what can be done and work for them that would correct the bitter partisan divide and allow the two parties to work together in the national interest on a more regular basis? >> one thing that would help is to elect more centrists. second, if the two parties met together in caucuses periodically. right now both sides caucus every week. most of that is focused on partisan advantage. i think it would be enormously useful if there were caucuses focused on the senate because of size where all senators met periodically in a caucus setting without the benefit of the media. i'm sorry. i think as we caucus now behind closed doors, i think a meeting of senators -- republicans and democrats on a periodic basis that was focused
america's competitive position. to me that should be a high priority. >> i would like to conclude with a question on your tenure. 26 years in the senate. he made the point that we now -- you made the point that we now have a partisan divide that is pretty vicious. from your experience, what can be done? what can be done and work for them that would correct the bitter partisan divide and allow the two parties to work together in the national interest on a more regular basis? >> one...
168
168
Dec 12, 2012
12/12
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we're here for the children of america, for the grandchildren of america. i guess i have a more selfish motive. i'm here for my four children. age 6 and under. abbey, ava, anna and tucker. each of them individually currently owns a share of our national debt. at $50,000 is the current tally. within a few years that will be roughly a $70,000 per child tab that they're going to have to pay off in the future. this is simply unacceptable. this is one of the reasons so many of us ran for congress, is to solve these very issues. we can't tax our way out of this challenge. taxes alone will just not cut it. i think instead we need a balanced approach. we need to both control spending and we need to increase the rate of economic growth in this country. when i say control spending, i'm prepared to put absolutely everything on the table and have an honest dialogue with my colleagues on both sides of the aisle. and we need to increase the rate of growth so we can grow more taxpayers in this country. and one way we do that is by simplifying our mind-numbingly complicate
we're here for the children of america, for the grandchildren of america. i guess i have a more selfish motive. i'm here for my four children. age 6 and under. abbey, ava, anna and tucker. each of them individually currently owns a share of our national debt. at $50,000 is the current tally. within a few years that will be roughly a $70,000 per child tab that they're going to have to pay off in the future. this is simply unacceptable. this is one of the reasons so many of us ran for congress,...
174
174
Dec 24, 2012
12/12
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it was one where america had a surplus and america decided instead of doing what germany is doing at the moment -- which is cutting its nose to spite its face, and thereby ending the recession by cutting, cutting, cutting -- volcker as the head of the fed at a different idea. we are going to expand our dominance and are well by expanding our deficit and using our deficits to provide the rest of the world with the demand which is necessary to grow their economies, even at the expense of hours. and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. but if you are the united states of america and there are certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall street. thus closing the cycle, the recycling loop. so, effectively what we have between 1940's and 1971, 1973, you had global surpluses being recycled from united states to the rest of
it was one where america had a surplus and america decided instead of doing what germany is doing at the moment -- which is cutting its nose to spite its face, and thereby ending the recession by cutting, cutting, cutting -- volcker as the head of the fed at a different idea. we are going to expand our dominance and are well by expanding our deficit and using our deficits to provide the rest of the world with the demand which is necessary to grow their economies, even at the expense of hours....
96
96
Dec 22, 2012
12/12
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they do not have the spirit of what america is all about. this is the united states of america. there is the reason we call ourselves the united states of america, because we respond collectively to the needs of our citizens, regardless of what part of the country they are from. i want to thank you both for your testimony. i appreciate it. i look forward to continuing to work with you. as you depart, let me call up and introduce our next panel. james feinstein is the executive director of the new jersey transit, the largest transit system in the nation. he has kept a cool head in a tumultuous time for the agency and will help us understand the challenges new jersey transit faces going forward. hans pendergast is the head of the mta, which suffered extensive damage during the storm. i am glad he is here to help us wrap our mind around with those challenges are. patrick is the head of path, which is open again, that has significant challenges. i would like to ask each of you to give us about five minutes of oral testimony. you're full statements will be included in the record. >>
they do not have the spirit of what america is all about. this is the united states of america. there is the reason we call ourselves the united states of america, because we respond collectively to the needs of our citizens, regardless of what part of the country they are from. i want to thank you both for your testimony. i appreciate it. i look forward to continuing to work with you. as you depart, let me call up and introduce our next panel. james feinstein is the executive director of the...